How Much Is Enough?

[track61]

Exxon/Mobil announces their quarterly profits: almost $1500/second, that's $5,400,000/hr. (five million, four hundred thousand USD per hour). I worked in the oil industry all my life, it fed/raised my family, and I defended it countless times. Now that seems impossible. I realize that speculators have a large part in driving this insane situation, but where does it end? My dad used to tell me, "Boy, more is enough." Obviously, my old man never advised big oil. It just seems to me with the state of the world, this is blatant greediness, thievery, neglect, etc. etc. must stop.

Rant over.

[geriatrickid]

Ok, so you are angry at Exxon/Mobil Shell, BP etc. Legitimate beef too. So take it up with the owners that dictate corporate policy. That means smacking the large union pension funds like CALPERS and OMERS, and the public pension funds like the Japan Retirement Pension or Caisse de Depot de Quebec and the mutual funds that invest on behalf of stakeholders throughout the world. They invest in Exxon and hedge funds that inflate oil prices. In other words, if you are upset, look long and hard at yourself. You want high returns on investment and scream if you don't get it. Well, guess what, the investment funds are only doing what the public wants. Along the way the plan administrators are rewarded with big bonuses for squeezing out every last dollar of profit they can just so investors can make big returns.

Ever wonder why ethical investment funds are so small in the market? It's because investors want to have big returns and steer clear of such funds.

If you were runing an underfunded western pension plan, you'd be looking to maximize your returns to pay for the benefits that can't be covered by the plan assets. So if you want to fix the problem, start with the regular folks and their expectations.

[Sir Burr]

Did you feel sorry for the oil companies when oil was only $10 a barrel in 2000 / 2001?

[flying]

The only thing about it all that really pisses me off is the lack of alternatives.

It may be rumors but I have always heard that lack of alternatives was also the fault of the big oil companies.

I understand there are funds that rely on profits from big oil but still it is way out of whack these days.

Also back to alternatives why are there so few? I mean at times I would love to just say f^%$ it I wont use gas but I do not have that alternative. My truck for my business needs it

When will someone develop a alternative fuel or energy that is not sold to the big oil companies & squashed?

I know........I know .......

[Groongthep]

This topic was already discussed in another thread yesterday. Oil Companies Profits

[GuestHouse]

These are great times to be working in the oil industry, or holding stock in the oil industry - and great times for pension funds holding oil stocks.

But more than that - Share dividends are going into people's pockets - share dividends are getting spent on the high Street - Taxes are being paid. And to top it off the Oil Industry is making massive investments in new plant and in new clean technologies These investments mean new plant being built, new equipment being manufactured - jobs and prosperity for millions of people.

Remember the oil industry produces products that people use, employs vast numbers of people doing so and pays a great deal of taxes.

The issue of the day is not how much the oil industry is making, but the damage to the financial systems by people and businesses that did not produce anything but gambled with money that was not theirs

And if you want to get annoyed at the cost of oil and the money being made - take a closer look at exactly how much your government is taking on each litre of petrol, tank of heating oil, or KW or energy being sold to you.

[farang555]

big oil should play nice and give airlines a break on price of oil...............lol!

[pampal]

politics plays a large part, , instability and conflict in oil producing regions affects oil prices. The oil companies/governements profit from instablility

[Misty]

The only thing about it all that really pisses me off is the lack of alternatives.

It may be rumors but I have always heard that lack of alternatives was also the fault of the big oil companies.

I understand there are funds that rely on profits from big oil but still it is way out of whack these days.

Also back to alternatives why are there so few? I mean at times I would love to just say f^%$ it I wont use gas but I do not have that alternative. My truck for my business needs it

When will someone develop a alternative fuel or energy that is not sold to the big oil companies & squashed?

I know........I know .......

You could try a hybrid...uses less petrol/gas, and converts some of the braking enegy to electricity to be redeployed

[flying]

You could try a hybrid...uses less petrol/gas, and converts some of the braking enegy to electricity to be redeployed

No I am a building contractor. I have not seen any hybrid trucks yet. Hopefully someday